The familiar pattern of Chinese consumption growth
AbstractSince the beginning of China’s ‘reform and opening up’, high rates of investment spending have dramatically expanded the productive capacity of the Chinese economy, and accommodated the migration of hundreds of millions of rural agricultural labourers to the industrial and services sectors. This has underwritten a sustained boom in Chinese household consumption, even though it has declined as a share of Chinese GDP. While unique in its magnitude, China appears to be following the same development path of Japan, Korea and Singapore. As the migration of the labour force from agriculture to urban based industry runs its course, and as higher income consumers demand more labour intensive services, household incomes — and with it household consumption — is likely to stabilise as a share of GDP.
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Bibliographic InfoArticle provided by Treasury, Australian Government in its journal Economic Roundup.
Volume (Year): (2012)
Issue (Month): 4 (December)
Chinese economy; consumption; rebalancing;
Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Veasna Kong & Adam McKissack & Dong Zhang, 2012. "China in a new period of transition," Economic Roundup, Treasury, Australian Government, issue 4, pages 42-62, December.
- Brendan Coates & Dougal Horton & Lachlan McNamee, 2012. "China: prospects for export-driven growth," Economic Roundup, Treasury, Australian Government, issue 4, pages 79-102, December.
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